Phoenix Inns
Capabilities Employed: Sales & Marketing, Accounting & Reporting, Capital Planning, Asset Management, Revenue Management
Phoenix Inns Portfolio
In April 2006, Aimbridge acquired the Phoenix Inn Suites brand through a joint venture with JMI Realty, a development and construction management firm specializing in the hospitality arena, and Merrill Lynch. Phoenix Inn Suites, regionally recognized for superior price value of its premier all-suite accommodations, consists of an eleven-site portfolio, with eight hotels in Oregon, two properties in Washington, and one location in Arizona.
With asset improvement as the primary focus of the overall goal of brand expansion, $8 million has been spent on renovations of guest rooms, lobbies, meeting rooms and exteriors. Aimbridge’s first three quarters of operations resulted in a total revenue increase of 8% and a NOI increase of 15%.
